Elon Musk Confirmed to Acquire Twitter for $44 Billion, All the latest update
The world's richest person confirmed his takeover of Twitter for $44 billion on Monday, giving control of the social media platform used across the world by millions of users and global leaders. The deal appeared uncertain last week, but over the weekends after Elon Musk wooed shareholders of the company with financing details of the offer, the discussion on the deal accelerated. After the news, share prices of the platform surged up to 6% in the US.
On the acquisition of Twitter from a public to a private entity, the current CEO has said to the company about the future uncertainty. Parag Agrawal said- "Once the deal closes, we don't know which direction the platform will go,".
While the current Twitter CEO Parag Agrawal will receive an estimated $42 million if he gets terminated within the next 12 months after the new acquisition. Although the return of the Ex-president of the US, Donald Trump to the platform is unanswered yet, however, he had been permanently banned last year from the platform.